Sigma Lithium (NASDAQ:SGML) Shares Gap Down – Here’s What Happened

Sigma Lithium Corporation (NASDAQ:SGML)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $12.30, but opened at $11.15. Sigma Lithium shares last traded at $11.2170, with a volume of 1,141,554 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Canaccord Genuity Group raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday, December 29th. Citigroup cut shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th. BMO Capital Markets restated an “outperform” rating and set a $18.00 price objective on shares of Sigma Lithium in a research report on Wednesday, January 14th. Finally, Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.50.

Sigma Lithium Stock Down 6.3%

The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49. The company’s 50-day moving average price is $12.67 and its 200 day moving average price is $8.63. The stock has a market capitalization of $1.28 billion and a P/E ratio of -37.17.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $70.54 million. Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. As a group, equities analysts expect that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

Institutional Trading of Sigma Lithium

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC purchased a new position in Sigma Lithium in the fourth quarter worth about $51,000. Malaga Cove Capital LLC purchased a new position in shares of Sigma Lithium in the 2nd quarter worth approximately $52,000. GF Fund Management CO. LTD. purchased a new position in shares of Sigma Lithium in the 4th quarter worth approximately $57,000. BTG Pactual Asset Management US LLC bought a new position in shares of Sigma Lithium during the 3rd quarter valued at approximately $71,000. Finally, Quantbot Technologies LP bought a new stake in Sigma Lithium in the third quarter worth $82,000. 64.86% of the stock is currently owned by institutional investors.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.